#CyberMonday Volume 10: Reputational Harm

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Are you concerned about your reputation in business? In today’s episode of Cyber Monday, we’re diving into the importance of safeguarding your reputation, as it relates to income, in the face of cyber incidents. While reputational harm may not always be top of mind, it can have significant implications for businesses, particularly those in professional services.

Consider this scenario:

A cyber breach occurs at your CPA firm, real estate brokerage, or law office. Clients entrust you with sensitive information, and any breach can erode trust and damage your reputation. Unlike a local restaurant or dry cleaner, where customers may be more forgiving, clients expect their personal data to be secure when dealing with professional services.

What happens if your reputation takes a hit due to a cyber incident?

Chances are, your current insurance policy’s add-ons won’t cover the loss of income resulting from reputational damage. That’s where a broad form cyber insurance policy comes in. Many broad form cyber insurance policies include coverage for reputational harm, offering financial protection if your business suffers a loss of income due to adverse media coverage stemming from a cyber event. This coverage can be a lifeline for businesses facing reputational challenges, resulting in loss of income and can help ensure their survival in the aftermath of a cyber incident.

Would your business survive a Cyber Attack?

Statistics show that a significant percentage of businesses attacked in cyber events do not recover, underscoring the importance of robust cybersecurity measures and comprehensive cyber insurance coverage. With millions of attempted cyber attacks occurring daily, investing in a broad form cyber insurance policy with reputational harm coverage is essential for protecting your business’s future.

If you’re unsure about your current insurance coverage or need assistance in securing a broad form cyber insurance policy, don’t hesitate to reach out to us at Ochsner Insurance. Our team can help you navigate the complexities of cyber insurance and ensure your business is adequately protected.

Thank you for tuning in to Cyber Monday, where we’re committed to providing valuable insights without the sales pitch. Visit our website to access our cyber webinar for more tips on avoiding cyber threats and consider scheduling a threat assessment to evaluate your business’s cyber risk readiness.

Like and share this content to spread awareness about the importance of reputation protection in cybersecurity. Here’s to your business’s success and resilience in the face of cyber threats. Have a fantastic day!

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